Shares of The Cheesecake Factory Incorporated (NASDAQ:CAKE) reached a new 52-week low during mid-day trading on Friday after Morgan Stanley lowered their price target on the stock from $43.00 to $38.00. Morgan Stanley currently has an underweight rating on the stock. Cheesecake Factory traded as low as $36.41 and last traded at $37.51, with a volume of 999269 shares. The stock had previously closed at $38.27.
CAKE has been the topic of several other reports. Credit Suisse Group boosted their target price on Cheesecake Factory from $52.00 to $62.00 and gave the stock a “neutral” rating in a report on Thursday, November 4th. Deutsche Bank Aktiengesellschaft lowered their target price on Cheesecake Factory from $50.00 to $47.00 and set a “hold” rating on the stock in a report on Thursday, November 4th. Wells Fargo & Company lowered their target price on Cheesecake Factory from $59.00 to $55.00 and set an “overweight” rating on the stock in a report on Thursday, November 4th. Piper Sandler lowered shares of Cheesecake Factory from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $65.00 to $44.00 in a research report on Monday, January 3rd. Finally, Jefferies Financial Group raised shares of Cheesecake Factory from a “hold” rating to a “buy” rating and lifted their price target for the company from $55.00 to $60.00 in a research report on Friday, September 24th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $50.96.
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In other news, Director Edie A. Ames bought 1,650 shares of the business’s stock in a transaction on Wednesday, November 10th. The shares were bought at an average price of $45.12 per share, with a total value of $74,448.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 8.70% of the stock is owned by insiders.
Several institutional investors have recently bought and sold shares of CAKE. Amundi Pioneer Asset Management Inc. increased its position in shares of Cheesecake Factory by 84.6% during the first quarter. Amundi Pioneer Asset Management Inc. now owns 45,408 shares of the restaurant operator’s stock worth $2,221,000 after acquiring an additional 20,815 shares during the period. Teacher Retirement System of Texas increased its position in shares of Cheesecake Factory by 17.7% during the second quarter. Teacher Retirement System of Texas now owns 5,645 shares of the restaurant operator’s stock worth $306,000 after acquiring an additional 847 shares during the period. American Century Companies Inc. increased its position in shares of Cheesecake Factory by 225.9% during the second quarter. American Century Companies Inc. now owns 12,212 shares of the restaurant operator’s stock worth $662,000 after acquiring an additional 8,465 shares during the period. HighTower Advisors LLC increased its position in shares of Cheesecake Factory by 6.6% during the second quarter. HighTower Advisors LLC now owns 27,255 shares of the restaurant operator’s stock worth $1,481,000 after acquiring an additional 1,697 shares during the period. Finally, Citigroup Inc. grew its stake in shares of Cheesecake Factory by 80.0% during the second quarter. Citigroup Inc. now owns 57,136 shares of the restaurant operator’s stock worth $3,096,000 after purchasing an additional 25,392 shares in the last quarter. 76.60% of the stock is currently owned by institutional investors and hedge funds.
The company has a debt-to-equity ratio of 1.45, a current ratio of 0.56 and a quick ratio of 0.48. The business’s 50 day moving average is $40.68 and its 200 day moving average is $44.38. The stock has a market cap of $1.96 billion, a price-to-earnings ratio of 294.41, a P/E/G ratio of 1.41 and a beta of 1.58.
Cheesecake Factory (NASDAQ:CAKE) last issued its earnings results on Wednesday, November 3rd. The restaurant operator reported $0.65 EPS for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.05). The firm had revenue of $754.50 million for the quarter, compared to analyst estimates of $763.45 million. Cheesecake Factory had a return on equity of 25.01% and a net margin of 1.40%. The business’s revenue for the quarter was up 45.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.33) EPS. As a group, analysts forecast that The Cheesecake Factory Incorporated will post 2.23 earnings per share for the current year.
Cheesecake Factory Company Profile (NASDAQ:CAKE)
Cheesecake Factory, Inc engages in the operation of restaurant chains. It operates through The Cheesecake Factory, North Italia, Other FRC and Other segments. The Cheesecake Factory segment offers appetizers, pizza, seafood, steaks, chicken, burgers, small plates, pastas, salads, sandwiches and omelettes, and a selection of gluten-free items.
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